Bitcoin dips under $90,000 after a 3% drop

Bitcoin (BTC) is now trading below $90,000, dropping around 3% during the day. What's causing this? ➡️ Ongoing withdrawals from major Bitcoin spot ETFs ➡️ Significant uncertainty in the macroeconomic landscape ➡️ People cashing out after the record highs we saw in October The risk appetite has definitely waned, and those who don't grasp what's happening could miss out.

Bitcoin was unable to go beyond $93000 has caused the suspicion, it can not stay at $92000/$93000 for long and the price dropped asire people sold their coins. All I think is that the market can not be that bullish for now and we should not mind those that are saying bitcoin will not experience the winter season. I am prepared for both, be it bear or bull market but I think there will not be bull market for now and in some months to come.

I have made up my mind that we have entered the bear market. I took the decision because I don't want to have high expectations that will be dashed. Hitting another ATH is possible before the bull market ends if there are more inflows. There will always be a bull and bear market. Anybody who is disputing this fact, might be making a big mistake.

To be honest, all these dip don't really worry me at all. Bitcoin has done this same thing more than a million times before so this isn't anything new at all. The minute we start hitting new highs, the market gets really sensitive and any small dip looks like a big deal. From my own point of view, these drops happen because there is a big liquidity gap. If prices increase, a short amount of liquidation will trigger the market to drop downward. People stop being willing to buy at a price and start selling a lot. When this happens, it takes a big order to start a lot of panic selling. The other thing I notice is a lot of traders overleveraged themselves when the price is pumping. When markets experience just a little dip, long positions undergo liquidation operations and then you see the extensive market declines. It's the same deal with every cycle. For me nothing has really changed fundamentally. Bitcoin is still very strong, and the long term demands is still there, and you see all this kind of correction only shakes out all these people that only buy during hype. In fact, the market behaves way more responsibly when it cools off for a bit. In my opinion, the price drop is normal behavior. And every Bitcoin holder actually knows that everything will come back to normal.

It’s nothing, there just seem to be an active trader or some traders at that 93k region since November 20, they keep selling to maybe  buy back or just to make profits, it could be any of what you mentioned and it might not.. Currently 80k seem to be our current bottom and the pattern looks like an uptrend resumption but if this dip takes us below 86~85k then maybe 80k, anything below means welcome back to Bear rally

Profit taking is normal, Bitcoin has to pay people who want to sell it or it would lose far more confidence then otherwise.  The price overall remains high and that's not too concerning especially.   The candle for this week is a doji, indecision more then anything else.  Gaining then losing those gains is part of the rollercoaster and we know that will be too much for some people.  Some will sell now at the lower price then they buy later at a higher price.

If you have actually gotten the opportunity to read some experience traders posts on the forum there have been many who have actually been warning that there is very strong resistance above the $92k and that the market will need very strong momentum which is only possible with huge fundamentals that will shift the market to been bullish, I also caught reports on Coinglass platform of huge liquidation happening if the market price breaks this resistance, so the bounce off the place wasn’t surprising to me to be sincere. Next up is a $84k support to be tested while like the $92k resistance not looking like it will break at the moment I think this support will hold for a while but I see it breaking before the resistance breaks because the sellers are still in hold of the market

The price of Bitcoin is currently falling more than it is increasing, because some weak hands are taking benefits and selling Bitcoin, which is creating instability in the market. However, at this time, a new market is entering due to which the price of Bitcoin is being dumped, yes, I believe it, Bitcoin could not touch above $93k, from there the Bitcoin market is collapsing and the price of Bitcoin touched $88k. In this current situation, you should never be afraid, you should be stronger, it is the right time to increase your holding by buying Bitcoin. Never panic in the Bitcoin market, then you may face losses, so this is the time to hold Bitcoin tightly.

Best description to give to this state of market uncertainty and psychological sentiments is continues sells of assets and as it maybe, investors are still selling out of FOMO believing that the price will fall further due to high liquidity over the massive sales. So it is likely that the highest market could go is a rally with a benchmark without being able to recover to the top. That is likely to say that hodlers are not currently on the profiting to say what is striving the interest of the continues sells is based on investors taking profits in the current market while price has fallen badly Dip to the ATH.

History is repeating itself and it hasn't changed. We're already in a bear market, any recovery is temporary and it is time for those who haven’t taken profit yet to take advantage. That's not a sign that the bull market is over and bitcoin prices will go even higher. But that's the market, there will always be people who don't accept reality and they believe this time will be different. But the difference is that in each cycle they give different reasons, and this time they believe that with the participation of institutions, the bear market will not happen and the bull market will continue. But again, I believe that the people who believe this time will be different are the ones who end up taking the biggest losses.

After bitcoin fell to its lowest point in the $86k area during the correction that occurred last month, it seems that until now bitcoin has had difficulty pushing its price movement to rise to levels above $93k, which shows that the inflow into the market has now slowed down because many investors anticipate a deeper correction. If by the end of this year bitcoin is unable to cover its price at the $100k level, there is a possibility that the price of bitcoin will experience another correction. Many analysts are targeting that the $100k point is a sign of recovery for bitcoin, so if bitcoin cannot touch that price, it will trigger panic in the market again.

There's resistance that prevented the market from scaling through the $93,000 and this was why we could fall back to below $90,000 and that is why we are probably having the market in this regard, however, this should not be a long time expectations, because we will soon have the market on a very high support once it's revisited $93,000 the subsequent times, we are now in the month of December and mostly expected for bullish.

The market has showed a lot of signs that the bull market may be over and we will be heading to the bear market. But some analysts and investors are still seeing signs of the bull market not being over and wanting to see the price trade above $100K once again. Bitcoin is still consolidating and will only trend below $100K for sometime before we see another bearish move. So far, no signs of it having another bullish rally. So it is better to hope less for a bullish trend now and focus on accepting whatever outcome the market will eventually come with. We’ve had a successful bullish run and it was just the anticipation of many that the market will reach some certain price that’s making many feel that the market will still go uptrend to reach a new ATH before a bearish rally finally sets in.

If I remember correctly bitcoin's low in November was $80k, not $86k, and it also retested at $83k on the first day of December. Even if bitcoin returns to $100k in December, there is no guarantee that it is a sign of a market reversal and we can expect another bull run. Given the macroeconomic situation combined with the money flows in the market, bitcoin's recovery back to $100k looks like a temporary recovery before we enter a more serious bear market. In my observation, with the current market situation, any recovery is like a trap. So we should be careful if any recovery happens instead of being excited and subjective.

After quite the big dump there is always people who bought the dip and take profit at the nearest resistance. Bitcoin rejecting the resistance is normal but what matters most if whether within next few days it can retouch resistance and continue recovery to the $100k level. Try to find every dip, it's always like this.